Lionel De Broux

“March has been positive for the market in general and our portfolio has delivered quite a good performance in this environment, particularly due to the strong results of our fixed income and US equity selections. We have decided to make some changes within our equity pocket, by decreasing the allocation in the global equity fund to initiate a new position in the BGF World Gold Fund, as we want to benefit from gold companies’ margin expansion and from the positive correlation with physical gold price. We have also made a switch from the SAF GBN 300 to the more aggressive Aviva Absolute TAA Fund.”